Danish pharmaceutical company, Novo Nordisk (NYSE: NVO) surged in trading at the time of writing on Tuesday after the company announced the results of its SELECT cardiovascular outcomes trial. This was a double-blinded trial that evaluated its obesity drug, semaglutide 2.4 mg dosed weekly once with a placebo. This trial enrolled 17,604 overweight or obese adults aged 45 years or older with established cardiovascular disease (CVD) with no prior history of diabetes.
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This trial achieved its “primary objective by demonstrating a statistically significant and superior reduction in MACE [major adverse cardiovascular events] of 20% for people treated with semaglutide 2.4 mg compared to placebo.” Semaglutide 2.4 mg appeared to be safe and well-tolerated similar to previous trials of the drug.
The company expects to file for regulatory approvals of a “label indication expansion for semaglutide 2.4 mg (Wegovy) in the US and the EU in 2023.”
Year-to-date, NVO stock has soared by more than 18%.
